Recticel NV announces that it has received today an unsolicited non-binding offer from Kingspan Group Plc to acquire Recticel’s Insulation division and Flexible Foams division for an enterprise value of EUR 700 million on a debt-free, cash-free basis and subject to further price adjustment mechanisms. Recticel has taken note of the press release issued by Kingspan.
Recticel announces that on 29 March 2019 its share capital has been increased following the exercise of 20,000 warrants of the warrant plan issued on 23 June 2015. This resulted in the issuance of 20,000 new ordinary shares, which will be admitted for trading on Euronext Brussels as of 01 April 2019.
Recticel announces that on 29 March 2019 its share capital has been increased following the exercise of 20,000 warrants of the warrant plan issued on 23 June 2015. This resulted in the issuance of 20,000 new ordinary shares, which will be admitted for trading on Euronext Brussels as of 01 April 2019.
In accordance with the Act of 2 May 2007 on the disclosure of significant holdings in listed companies, Recticel (Euronext: REC) makes the following announcement:
- Combined sales of EUR 1,448.3 million (-0.9%)
- Combined Adjusted EBITDA of EUR 103.8 million (-1.6%)
- Result of the period (share of the Group): from EUR 23.9 million to EUR 28.8 million (+20.6%)
- Combined net financial debt: EUR 100.2 million (31 Dec 2017: EUR 122.9 million)
- Proposal to pay a gross dividend of EUR 0.24 per share (+9.1%)
OUTLOOK
Recticel is pleased to announce the closing of the transactions whereby Sekisui Plastics Co., Ltd. ( “Sekisui”) acquires 75% in the European moulded seat cushion specialist Proseat. Recticel maintains 25% in Proseat with the option to sell this remaining participation no later than January 1st, 2022.
Recticel, the global manufacturer of high performance polyurethane foam products, is proud to announce that it will coordinate the PUReSmart project, launched on 1 January 2019 for a duration of four years. It is supported by EUR 6 million in funding from the European Union Horizon 2020 Research and Innovation Programme. The PUReSmart collaborative consortium gathers nine partners from six different countries and seeks ways of transitioning from the current linear lifecycle of polyurethane (PU) products to a circular economy model.
Recticel announces that it has entered into final agreements whereby it will first acquire the remaining 49% in its Proseat joint venture from its Canadian partner Woodbridge Foam Corporation, and subsequently sell 75% in Proseat to Japanese public company Sekisui Plastics Co., Ltd. (hereafter “Sekisui”).
Recticel announces that on 18 December 2018 its share capital has been increased following the exercise of 11,814 warrants of the warrant plan issued on 20 December 2012. This resulted in the issuance of 11,814 new ordinary shares, which will be admitted for trading on Euronext Brussels as of 20 December 2018.